The average house prices in the city center are between 2800 and 3000 euros per sq m.

The average house prices in the city center are between 2800 and 3000 euros per sq m.

The luxury property sector in Bulgaria reports an increase in supply and a slight rise in prices (an average of 6.3%) in 2018. Price levels have already reached the extremes, acceptable to buyers.

Categorically over 1000 euro is sq. m. in the more outlying areas of Sofia as these prices are for new construction. In the center, the properties reach 2800-3000 euro per sq.m. Of course, sellers should not expect transactions to be concluded at these prices.

The market will soon have millions of square meters of new construction and the competition will be very serious. Investors targeting quick sales will have to adjust some of their property prices.

Sales growth is mainly due to the positive economic situation in Bulgaria, the low interest rates, and the goodwill of banks in lending. This trend is expected to continue in 2019, despite the restrictions that some banks will apply to lending.

Luxury property prices will remain this year either, or a slight decline and overpriced properties will have to be reduced.

Buyers of luxury properties are working people of active age who are very well informed. If previous deals were made after the third, fifth inspection, today this number of views is far higher. It should be clear to the sellers that they are in competition and the legends of the buyer who will fall in love with the property and give the overpayment price, without being interested, should be forgotten.